All Forum Posts by: Owen Hawbaker

@Brandon Beardt

I was looking conventional simply because I didn't know any better. Did get approved on a 30 with Wells Fargo.

What is a non-QM? What are the pros and cons?

Struggling to get the cash to start investing in real estate. Got a HELOC so I could pull cash out of my current home but in attempting to get approved for an investment property mortgage my credit union told me I could only do a 15 year mortgage. This makes my monthly financials not so great.

Are 15 year mortgages for investment properties?

If not does anyone have a good place to point me to a financial institution that would give me a 30 year mortgage? I'm in Tulsa OK.

@Alessandra Verbena I don't do short term rentals however I do live in Tulsa. I don't view my town as a very touristy place. There are no beaches, mountains, key sports teams, etc to come see. That said if you are looking here there is the historic route 66 that goes right through downtown that I know people love to drive. There are two key arenas: the BOK center in downtown Tulsa and the Mabee Center in South Tulsa at 81st and Lewis. Family oriented travelers may be attracted to The Gathering Place at 31st and riverside. We also have a few casinos but I do not fancy us to be Las Vegas by any means.

@Robert Freeman I'm also in the Tulsa area and new to real estate. Haven't found any meet ups but let me know if you find one because I would also be interested

@Allen Gross I'm afraid I'm very new the whole real estate game (I don't even own any yet other than my primary residence!) So I'll let other comment on your methodology.

I will advise you that your spreadsheet appears to only be looking at Tulsa proper (based on population count). I live in the Tulsa metro and you should definitely look at broken arrow, sand springs, and Bixby (all suburbs of Tulsa). Broken arrow in particular should add hundreds of thousands to the population. It has a great school district and is rapidly growing. Check out places close to the rose district and main Street.

@Joe Splitrock I have a steady salary job and good credit. How does one go about finding a private lender or partner?

hey guys, 

Looking to get started next year in real estate but I don't really have any hopes of saving up thousands of dollars for a 20% down payment that my local credit union requires for investment properties.  Any thoughts on a lender in Tulsa that would take no money down?  Or do I just need to think really small for my first deal? 

hey guys.  I live in Tulsa Oklahoma (south Tulsa specifically).  I am married with 2 little girls and 2 dogs.  I work as a lead product manager at Lumen technologies.  In 2019 my wife and I moved from our home in Broken Arrow to south Tulsa.  During the process of securing the loan for our new home the bank asked me if I was going to keep my original home in Broken Arrow or sell it.  The question caught me off guard and for a brief period we considered renting our original home.  We did not end up doing it (for which I am very grateful now because I knew nothing about renting at the time and now think it would have ruined me for ever renting in the future) however it planted a thought in the back of my head that drove me to do some reading now in 2021.  I picked up Brandon Turner's "Rental Property Investing" and additionally started listening to the bigger pockets podcast.  

My hopes for real estate investing are to eventually (years from now) secure a semi-passive income stream that requires minimal hands on management.  I have hopes then of spending much more time with my family and on my passions for media production.  Currently I have no investment properties but I have started formulating a timeline and a plan that starts with me buying one in the first part of 2022.